Used cars and trucks priced at$10,000,000 in 1984→$12,300,888.89 in 2018

Used Cars And Trucks Inflation Calculator

Prices for Used Cars And Trucks, 1984-2018 ($10,000,000)

According to the U.S. Bureau of Labor Statistics, prices for used cars and trucks were
23.01% higher
in 2018 versus 1984 (a $2,300,888.89 difference in value).

Between 1984 and 2018:Used cars and trucks experienced an average inflation rate of 0.61% per year.
In other words, used cars and trucks costing $10,000,000 in the year 1984 would cost $12,300,888.89 in 2018 for an equivalent purchase.
Compared to the overall inflation rate of 2.63% during this same period, inflation for used cars and trucks was
lower.

Price Inflation for Used cars and trucks since 1984

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing:
2010 (12.72%),
1995 (10.45%),
and 1993 (8.71%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Used cars and trucks:

Buying power of $10000000 since 1984

Below are calculations of equivalent buying power for Used cars and trucks, over time, for $10000000 beginning in 1984. Each of the amounts below is equivalent in terms of what it could buy at the time:

How to calculate the inflation rate for used cars and trucks, 1984-2018

Start with the inflation rate formula:

CPI in 2018 / CPI in 1984* 1984 USD value = 2018 USD value

Then plug in historical CPI values from above. The CPI for Used cars and trucks was 112.500 in the year 1984 and 138.385 in 2018:

138.385 / 112.500* $10,000,000 = $12,300,888.89

Therefore, according to U.S. Bureau of Labor Statistics, $10,000,000 in 1984 has the same "purchasing power" as $12,300,888.89 in 2018 (in the CPI category of Used cars and trucks).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Used cars and trucks in 1984. In addition to used cars and trucks, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.